Micrel, Inc. announced financial results for the third quarter ended September 30, 2011. Third quarter revenues of $64.2 million decreased by $4.3 million, or 6.2% compared to revenues of $68.5 million in the second quarter of 2011. Revenues for the same period last year were lower by $16.4 million, or 20.3%. The sequential and year over year decrease in revenues was due to lower overall demand from customers in most geographies and end markets.
Third quarter 2011 GAAP net income was $9.2 million, or $0.15 per diluted share, compared to second quarter 2011 GAAP net income of $10.7 million, or $0.17 per diluted share, and GAAP net income of $14.9 million, or $0.24 per diluted share in the same period in 2010. Third quarter 2011 non-GAAP net income was $10.2 million, or $0.16 per diluted share, compared to second quarter 2011 non-GAAP net income of $11.6 million, or $0.18 per diluted share, and non-GAAP net income of $15.7 million, or $0.25 per diluted share in the same period in 2010.
